Denny Hardin found guilty in $100 million fraud case
The Private Bank of Denny Ray Hardin is now bankrupt. Hardin, 52, was found guilty in federal court Wednesday in a $100 million fraud scheme.
During a bench trial, a judge found Hardin guilty of 11 counts of creating false obligations and 10 counts of mail fraud.
The feds say Hardin created and issued worthless “bonded Promissory Notes.” But Hardin claimed that the notes were backed by the U.S. Department of the Treasury and could be used to pay off debts. They weren’t and couldn’t. And Hardin wasn’t authorized to make them or issue ’em.
